Does getting a new card extend SOL on old card account

Does getting a new card extend SOL on old card account

I have a couple of accounts that were closed, charged off, and ultimately sold to JDBs. Last payments were made in 2002. A couple of years ago, I was offered new accounts from two of these old companies, C1 and HouseHold Bank. I get both of these accounts approved, and they have been current for almost 2 years now. My question is, the SOL expired on the old accounts last year, but does opening new accounts re-start the SOL? Could the JDBs now sue and prevail?

Re: Does getting a new card extend SOL on old card account

WishingForAHouse wrote:

I have a couple of accounts that were closed, charged off, and ultimately sold to JDBs. Last payments were made in 2002. A couple of years ago, I was offered new accounts from two of these old companies, C1 and HouseHold Bank. I get both of these accounts approved, and they have been current for almost 2 years now. My question is, the SOL expired on the old accounts last year, but does opening new accounts re-start the SOL? Could the JDBs now sue and prevail?

Thanks!

You need to get this thread moved over to the correct forum where the right people are to answer your questions. A mod will probably do that for you. You might want to edit this post to include the state that you live in.

Re: Does getting a new card extend SOL on old card account

Assuming your state allows SOL to be restart after it expired (only a few states do), about the only thing that could restart it is with a payment to the OC on this debt. The OC has long since sold the debt to a CA and the CA to a JDB. So as long as you don't specify your payment as going to the old debt, you'll be OK.

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IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.